Arvinas (NASDAQ:ARVN) Shares Gap Up - Still a Buy?

Shares of Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $7.37, but opened at $7.66. Arvinas shares last traded at $7.70, with a volume of 330,478 shares trading hands.

Analyst Upgrades and Downgrades

ARVN has been the topic of several recent analyst reports. Wedbush downgraded Arvinas from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $57.00 to $12.00 in a report on Wednesday, March 12th. Barclays reduced their price objective on Arvinas from $32.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley lowered their target price on Arvinas from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Wells Fargo & Company reduced their price target on shares of Arvinas from $26.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, Leerink Partners reiterated a "market perform" rating and set a $9.00 target price (down from $10.00) on shares of Arvinas in a research report on Monday, June 2nd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Arvinas currently has a consensus rating of "Moderate Buy" and an average price target of $20.29.

Arvinas Stock Performance

The stock's fifty day moving average is $7.45 and its 200-day moving average is $13.04.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.14 EPS for the quarter, topping the consensus estimate of ($0.93) by $2.07. Arvinas had a negative return on equity of 7.74% and a negative net margin of 10.92%. During the same quarter in the prior year, the firm posted ($0.97) EPS. Arvinas's revenue for the quarter was up 646.2% on a year-over-year basis. Equities analysts forecast that Arvinas, Inc. will post -3.81 EPS for the current year.

Institutional Investors Weigh In On Arvinas

Several large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in Arvinas during the 4th quarter worth about $28,000. GAMMA Investing LLC lifted its stake in Arvinas by 11,283.8% in the 1st quarter. GAMMA Investing LLC now owns 4,212 shares of the company's stock valued at $300,000 after acquiring an additional 4,175 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Arvinas by 965.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company's stock worth $33,000 after acquiring an additional 4,219 shares during the last quarter. CWM LLC grew its stake in shares of Arvinas by 2,317.5% during the 1st quarter. CWM LLC now owns 7,615 shares of the company's stock worth $53,000 after acquiring an additional 7,300 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Arvinas in the fourth quarter valued at $171,000. Institutional investors own 95.19% of the company's stock.

Arvinas Company Profile

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins.